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Americans' credit scores are falling. That hasn't happened in a decade

·1 min

Even as unemployment remains low and recession fears fade, consumer credit scores are starting to decline. The national average FICO score dropped to 717 as of October, down from 718 in July. This is the first drop in a decade, indicating that some Americans are feeling financial stress. The cost of living remains high and high interest rates are adding to the pressure. Despite the drop, credit scores are still near record highs and above pre-pandemic levels. Rising debt levels and missed payments contributed to the decline in credit scores.